‘Mortgage Discharge’ Category

Debt Forgiveness & Income Exclusions

Easy Plugin for AdSense by Unreal The general rule when it comes to debt forgiveness is that it is taxable. But there are some exceptions. The most common situations when debt forgiveness income is not taxable involve bankruptcy, the Mortgage Forgiveness Debt Relief Act, insolvency, and certain farm and business indebtedness. Discharges in bankruptcy can […]

 
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